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FEATURESMORAL LEADERSHIP


not to address it as long as they are getting results. Additionally, theyreduce the


timeinteractingwith staff, as it is prioritisedbelowtheir otherenhanced responsibilities ofrunningbusinesses. Both theabovecanbeaddressedby


diligently usingthesimple360-degree reviewprocessonthemselvesand their direct reports,andtreatingstaff engagement timeas sacrosanct.


Compassion at the top: bothNewZealand’s Jacinda Ardern (left) and Germany’sAngelaMerkel havemadea conscious effort to help the marginalised in their spheres of influence


FIG 5


HOWSHOULDBOSSES PLAN FOR THE SUCCESSION PROCESS FOR MORAL LEADERS?


10 20 30 40 50


0


Identify a successor at an early stage and mentor them


FIG 6


WHICH LEADERS HAVE SHOWNTHE STRONGEST MORALCOMPASSANDBEST EXAMPLEDURING THE COVID CRISIS?


Angela Merkel Jacinda Ardern


Giuseppe Conte Boris Johnson Joe Biden


Emmanuel Macron Tsai Ing-wen Donald Trump


Pedro Sánchez Xi Jinping


Jair Bolsonaro Narendra Modi Vladimir Putin


0102030405060 Percentage of respondents


Conduct a selection process between key management group members


Conduct a much broader process including external candidates


thesub-primelendingdays.The blow-upof family officeArchegos Capital, linkedto leverageoffered bysophisticatedbankers, is further evidence that themerry-go-roundof greedcontinues to trumpmorality for revenue-hungry leaders inalow- interest rateenvironment.


ACHILLES’HEELS The industry has never been short of competent people. The question ishowmanagementmeasures the viability of a product offering. The firstmeasuremust be that it is beneficial to the client.Once that is established, then it must be profitable for the bank aswell. In the above scandals, it seems that


generating a newrevenue streamwas the primary determinant. Has anything really changedin


the behaviour of financial services leaders?Does the ‘say/do gap’ continue to widen or is there a fundamental shift fromshareholder capitalismto stakeholder capitalism? This fundamental questioncontinues to be debated. In addition,moral leaders have


a fewAchilles’ heels to protect. As they ascendto power, theyempower theirmost loyal lieutenants.When these lieutenants start throwing the leader’snamearoundto bully others into submission, the leaders tend


24 APRIL/MAY 2021


ROLEMODELS Oursurvey’s finalquestion, asking whichglobal leaders our respondents mostadmired, providedsome interestinginsights (Figure6). Atoneendof thespectrum,the


likes of Brazil’s JairBolsonaro, India’s NarendraModiandRussia’sVladimir Putinwere at the bottomof the ratings. Whatever theircompetencies,our respondentsacknowledgedthe divisiveness of thesecharismaticbut controversial leaders. NewZealand’s JacindaArdern


andGermany’sAngelaMerkel, unsurprisingly, receivedthe highest scoresbyawidemargin.Both leaders havemadeaconscious effort to help themarginalisedin theirspheres of influence.MelindaGates recently musedthat thismaybebecause theyarewomen. Ibelieve this to bethe case.Somemenarecapable of thesame,but theyareprobably exceptions. Ournote ofoptimismcomesfrom


this diversityofexperienceandorigin. Whilethebehaviours ofmanyleaders inwealthandassetmanagement are still invariablydrivenbythe bottom line,whichlures themintoperiodic scandals, theemergenceofabroader selectionofmorediversetalent rising throughorganisationswilleventually bodewell for the future.


Malik Sarwar is senior partner, Global Leader Group, USA


Percentage of respondents


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